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Funding arb · Price arb /

ETH

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 04:00 UTC+0.0381%/8h= +41.7% APRpaid last 24h +0.012%
Price spread now: BloFin against dYdX−0.003%7-day average −0.024% · you buy dearer than you sell
Net, funding: paid 7d − costs−$20as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$260.261% of the position
Long on dYdXShort on BloFin
What this pair did over the last
the charts below follow
Funding, last 7 days+0.062%+$6 on $10k
Price spread, last 4 days (all we have)−0.178%−$18 · spread now −0.003%, 7d avg −0.024%
Together, before fees−0.115%−$12 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and BloFin is 0.021% dearer against dYdX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.024%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.062% in total (about 3.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongdYdX ETH-USD2,736.70.0001pay 0.0000% / 1h2m 53s$10.7M$41.9M50x
ShortBloFin ETH-USDT2,736.60.0382get 0.0382% / 8h4h 02m$283.6M$175.9M150x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BloFin against dYdX. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$80.07
Price spread: −0.003% → −0.024%
$2.1
Slippage, 4 orders
−$4.09
Fee dYdX: 5 bp × 2 orders
−$10
Fee BloFin: 6 bp × 2 orders
−$12
Net
$56.07
Costs to cover
0.261%
Break-even
2.1 days
Slippage from dYdX: live order book, 1 min ago; BloFin: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy dYdX live order book, 1 min ago1.64 bp7.4 bp −$78.0 bp −$8013.5 bp −$1,34923.2 bp −$11.6K
Sell BloFin live order book, 6 min ago0.04 bp6.0 bp −$66.0 bp −$606.4 bp −$6447.6 bp −$3,797

ETH on 55 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Perpl ETH−0.0447%43m2,736−0.024%$297K$5.6M8.3xas long as short
Injective ETH/USDC PERP−0.0141%1h2,734.2−0.091%$117K$22.5M52xas long as short
Hotstuff ETH-PERP−0.0080%1h2,735.1−0.058%$5K$1K50xas long as short
GMX ETH/USD [ETH-USDC]L −0.0010% / S +0.0043%1h2,736.70.000%$11.9M—200xas long as short
01 Exchange ETHUSD0.0000%1h2,736.9+0.008%$187K$822K50xas long as short
Phoenix ETH0.0000%1h2,733.9−0.102%$826K$2.9M25xas long as short
dYdX ETH-USDlong+0.0001%1h2,736.7long leg$10.7M$41.9M50x
gTrade (Gains Network) ETH/USDL +0.0007% / S −0.0007%1h2,736.7+0.001%$28.1M—200xas long as short
Bullet ETH-USD+0.0014%1h2,736.2−0.018%$180K$1.7M20xas long as short
HTX ETH-USDT+0.0020%8h2,735.9−0.029%$1.06B$1.20B200xas long as short
Show all 55 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX ETH-USDT+0.0044%8h2,736.3−0.015%—$1.15B—as long as short
Bybit ETHUSDT+0.0054%8h2,735.6−0.039%$2.38B$4.35B150xas long as short
ApeX Omni ETHUSDT+0.0063%1h2,733.1−0.130%$8.7M$31.3M100xas long as short
KuCoin ETHUSDTM+0.0067%8h2,736.5−0.005%$380.4M$573.4M100xas long as short
OKX ETH-USDT-SWAP+0.0075%8h2,735.5−0.042%$1.67B$10.72B100xas long as short
Phemex ETHUSDT+0.0078%8h2,736.5−0.007%$265.9M$65.0M150xas long as short
Aster ETHUSDT+0.0086%8h2,736.1−0.022%$251.2M$841.9M200xas long as short
MEXC ETH_USDT+0.0094%8h2,736.4−0.010%$1.55B$2.57B500xas long as short
Binance ETHUSDT+0.0096%8h2,736.4−0.012%$6.36B$15.88B150xas long as short
Lighter ETH+0.0096%1h2,736.8+0.005%$112.9M$442.1M50xas long as short
Lighter RH ETH+0.0096%1h2,738+0.048%$23.5M$106.8M50xas long as short
Jupiter Perps ETH-PERPL +0.0096% / S +0.0048%1h2,734.8−0.068%—$30.9M500xas long as short
Aevo ETH-PERP+0.0096%1h2,734−0.096%$4.9M$155K20xas long as short
Paradex ETH-USD-PERP+0.0099%8h2,740.2+0.129%$15.6M$8.0M50xas long as short
RISEx ETH/USDC+0.0099%1h2,737.1+0.015%$5.6M$11.7M25xas long as short
Katana Perps ETH-USD+0.0100%8h2,736.2−0.018%$501K$3.3M50xas long as short
Nado ETH-PERP+0.0100%1h2,736.1−0.022%$13.6M$104.3M50xas long as short
Hyperliquid ETH+0.0100%1h2,738.6+0.070%$3.11B$2.05B25xas long as short
Pacifica ETH+0.0100%1h2,737+0.011%$32.0M$335.0M50xas long as short
Ondo Perps ETH-USD.P+0.0100%1h2,733.9−0.102%$2.7M$16.7M25xas long as short
Arcus ETH-USD+0.0100%1h2,737.1+0.016%$1.6M$16.0M25xas long as short
Bulk ETH-USD+0.0100%1h2,733.7−0.110%$169.4M$313.3M25xas long as short
Gate ETH_USDT+0.0100%8h2,736.6−0.004%$3.34B$8.93B200xas long as short
Bitget ETHUSDT+0.0100%8h2,735.7−0.035%$2.07B$2.73B150xas long as short
Backpack ETH_USDC_PERP+0.0100%1h2,735.6−0.038%$15.1M$39.6M50xas long as short
Variational Omni ETH+0.0100%8h2,732−0.171%$133.7M$324.6M—as long as short
edgeX ETHUSDC+0.0100%4h2,732.4−0.156%$183.8M$671.1M100xas long as short
GRVT ETH_USDT_Perp+0.0100%8h2,733.6−0.114%$159.0M$86.4M50xas long as short
StandX ETH-USD+0.0100%1h2,734−0.098%$21.1M$68.2M40xas long as short
Vest ETH-PERP+0.0100%1h2,736.8+0.006%—$843K50xas long as short
Polymarket Perps ETH-USD+0.0100%1h2,738+0.048%$11.2M$9.3M50xas long as short
Bluefin ETH-PERP+0.0100%1h2,736.6−0.002%$21K$20K25xas long as short
Derive ETH-PERP+0.0100%1h2,738.1+0.053%$41.3M$29.8M15xas long as short
SunX ETH-USDT+0.0100%8h2,735.2−0.056%$959K$11.3M100xas long as short
SoDEX ETH-USD+0.0100%1h2,736.3−0.014%$54.5M$187.6M40xas long as short
Extended ETH-USD+0.0104%1h2,735.8−0.031%$30.4M$72.9M50xas long as short
Coinbase International ETH-PERP-INTX+0.0112%1h2,737.6+0.033%$51.3M$4.27B50xas long as short
Aftermath Perps ETHUSD+0.0116%1h2,734.4−0.084%$30K$20K20xas long as short
Deribit ETH-PERPETUAL+0.0130%1h2,737.7+0.038%$259.6M$196.3M50xas long as short
Kalshi KXETHPERP+0.0130%8h2,736.6−0.003%$6.7M$678.8M4.9xas long as short
Orderly PERP_ETH_USDC+0.0198%8h2,739+0.083%$32.2M$11.7M100xas long as short
Reya ETHRUSDPERP+0.0216%1h2,735.8−0.031%$7.3M$1.2M25xas long as short
Kraken Futures PF_ETHUSD+0.0222%1h2,737+0.012%$83.3M$314.9M100xas long as short
Hibachi ETH/USDT-P+0.0280%1h2,734.2−0.091%$249K$1.4M20xas long as short
BloFin ETH-USDTshort+0.0382%8h2,736.6−0.003%$283.6M$175.9M150x